Week Ending 22/10/2008
The past week has seen unprecedented changes to banking and the global economy and we are now entering an unknown era, no area of the business world is unaffected and as marketers we have to appreciate this. You can argue that businesses need to promote regardless of the state of the economy but there is nothing to stop them drastically cutting budgets or bringing their marketing function fully in house. Industry blog Marketing Profs have quizzed 600 of their members on the effect of the financial crisis on marketing spend.
However if you work within digital marketing it may not be all bad news…
Social Media always demands attention on this blog (quite rightly so!) and the phenomenon seems to be one of very few things that are fighting off the nasty financial crisis according to Steve Rubel on the Micro Persuasion blog…
The IAB (Internet Advertising Bureau) have published figures that tell that internet marking spend was actually up in the first half of 2008. Click below to read more.
That is all from an economic point of view for now so if all the talk of crisis makes you nervous, relax and read on!
Social Media News
The social web chat continues with some very interesting survey results from the ‘Church of the Customer’ blog that outline the importance of social web as a customer service tool. It would appear that users want to be able to interact with a company via social web outlets. Click below for more facts and figures.
If that was not enough ammo to be used in the face of anyone telling you that the social web is not worth spending time and budget on then read this blog from Tom Smith who is the leader of global research for Universal McCann. He states that social web should now be a default advertising/service medium for all companies and I find it hard to argue!
More Marketing News
As a marketer you work with brands on a daily basis, but have you ever considered yourself as a brand? Marketing magazine report on people building brand ‘me’ by using various online tools:
A New Twist on the Presidential Race
Barack Obama’s campaign have continued to innovate with their promotion and have placed some adverts in a popular Xbox 360 racing game. Click below for the full article from Three Minds.
In-game advertising is big business and should not be overlooked by those with the budgets available to make use of it. Surprisingly gamers seem open to it as long as it is not overly imposing.
The power of youtube.com (other video sites are available) as an outlet for marketing cannot be underestimated and the fact that is receives 38,000,000 visits per month would tell you that the sooner you get some content on there, the better! I often search it for clips related to all things marketing and will feature some of the best ones in this blog.
This video by a German marketing firm illustrates the power of virals in a rather quirky fashion.
Still on the viral theme, a recent campaign by American car parts company Monroe spread like wildfire. No squirrels were harmed in the making of this video . It is important to remember that your viral is intended to get people talking and ultimately you are looking for them to pass it on via the web. People may not be interested in your product but their friend may be looking to buy what you sell and when they mention your video to said friend, your brand seed is planted!
That’s all this week folks hope you found this of interest!!!